Texas Insurance Code - INS § 805.004. Activities Not Prohibited

(A) becoming a policyholder of the insurer and exercising the usual rights of a policyholder;

(B) participating as beneficiary in a pension plan, deferred compensation plan, profit-sharing or bonus plan, stock option plan, or similar plan adopted by the insurer and for which the director, officer, or major shareholder may be eligible under the terms of the plan;

(C) receiving a salary, bonus, or other remuneration for a service rendered to the insurer as an employee of the insurer and not in violation of another provision of this code;  or

(D) entering into an arms-length transaction with the insurer if:

(A) performing professional services not required of a director by law;  or

(B) receiving director's fees or reimbursement for an expense incurred in the performance of a duty as a director;

(A) is not prohibited by law;

(B) meets the test of being fair and proper;  and

(C) is regulated by another statute;

(A) is not prohibited by law;  and

(B) meets the test of being fair and proper as prescribed by rules adopted by the commissioner;  or